Company No: 02156326 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2025		31.12.2024
		£		£
Fixed assets
Intangible assets	3	123,764		157,729
Tangible assets	4	3,366		6,454
		127,130		164,183
Current assets
Debtors	5	206,484		246,628
Cash at bank and in hand		42,169		78,873
		248,653		325,501
Creditors: amounts falling due within one year	6	( 121,065)		( 164,729)
Net current assets		127,588		160,772
Total assets less current liabilities		254,718		324,955
Creditors: amounts falling due after more than one year	7	( 15,556)		( 19,445)
Net assets		239,162		305,510
Capital and reserves
Called-up share capital		293,870		293,870
Profit and loss account		( 54,708 )		11,640
Total shareholder's funds		239,162		305,510

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of GTX Europe Limited (registered number: 02156326) were approved and authorised for issue by the Board of Directors on 30 April 2026. They were signed on its behalf by:

Rickard Otto Jonsson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

GTX Europe Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Clifton House, Bunnian Place, Basingstoke, RG21 7JE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment

3 years straight line

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	Year ended 31.12.2025		Period from 01.04.2024 to 31.12.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	460,482		460,482
Additions	8,149		8,149
At 31 December 2025	468,631		468,631
Accumulated amortisation
At 01 January 2025	302,753		302,753
Charge for the financial year	42,114		42,114
At 31 December 2025	344,867		344,867
Net book value
At 31 December 2025	123,764		123,764
At 31 December 2024	157,729		157,729

4. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2025	29,378		29,378
Additions	794		794
At 31 December 2025	30,172		30,172
Accumulated depreciation
At 01 January 2025	22,924		22,924
Charge for the financial year	3,882		3,882
At 31 December 2025	26,806		26,806
Net book value
At 31 December 2025	3,366		3,366
At 31 December 2024	6,454		6,454

5. Debtors

	31.12.2025		31.12.2024
	£		£
Trade debtors	38,068		41,094
Amounts owed by Group undertakings	153,273		203,273
Prepayments	14,956		0
VAT recoverable	0		1,858
Other debtors	187		403
	206,484		246,628

6. Creditors: amounts falling due within one year

	31.12.2025		31.12.2024
	£		£
Bank loans	3,889		3,889
Trade creditors	821		6,880
Accruals and deferred income	110,421		122,487
Taxation and social security	5,091		30,630
Other creditors	843		843
	121,065		164,729

7. Creditors: amounts falling due after more than one year

	31.12.2025		31.12.2024
	£		£
Bank loans	15,556		19,445

There are no amounts included above in respect of which any security has been given by the small entity.